Intuit (NASDAQ:INTU) Price Target Raised to $800.00 at Jefferies Financial Group

Intuit (NASDAQ:INTU) had its target price upped by Jefferies Financial Group from $790.00 to $800.00 in a research note released on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the software maker’s stock.

INTU has been the topic of several other research reports. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

Shares of INTU opened at $634.62 on Friday. The company’s 50 day simple moving average is $634.58 and its 200-day simple moving average is $631.24. The firm has a market cap of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm posted $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Intuit will post 14.05 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently modified their holdings of the business. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.